I need to know If

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PostPosted: Sun Apr 26, 2009 10:37 pm   Post subject: I need to know If  

I need to know If my mother has a life insurance policy on me, how can i find out ?

crystalhearst
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PostPosted: Mon Apr 27, 2009 4:30 am   Post subject:   

Ask her? Can you tell us what your questions is stemming from?



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PostPosted: Mon Apr 27, 2009 10:29 am   Post subject:   

Quote:
I need to know If my mother has a life insurance policy on me, how can i find out ?




Is there more to this question? Like Teacher has said you have to go and ask your mother about it but I think you are contemplating over filing death claim.



Now, there are some standard methods to search the policy which we always suggest to our posters. They are,



*Search through her important papers

*Check with the friends and family

*If you know the name of the insurance company, check with it.

*Next, you should check with the employer of your mother.



Let us know of we can be of more help
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PostPosted: Mon Apr 27, 2009 9:03 pm   Post subject:   

She's not the owner. An insurance company won't tell her anything.

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PostPosted: Tue Apr 28, 2009 3:41 pm   Post subject:   

was any check made on ur medical records.....if yes ..then try to find who made that check........this might help u finding out the insurance company name.

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PostPosted: Thu Apr 30, 2009 10:00 am   Post subject:   

Hi crystal hearst



I am sorry and no offense meant, but I really need to ask this. Is your mom alive? Are you in talking terms with her? Can you not ask your mom if she has a life insurance policy on you? You could try the Medical Information Bureau though. They might be able to help you locate a policy.



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PostPosted: Fri May 01, 2009 7:21 pm   Post subject:   

Yes if she is alive you can just ask. If she is not alive im sorry im not sure if you can ask or call the insurance company and find out?

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PostPosted: Sat May 02, 2009 12:54 pm   Post subject:   

Quote:
She's not the owner. An insurance company won't tell her anything
Gary, they dang well will if she's the INSURED which is her question.


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PostPosted: Sat May 02, 2009 4:07 pm   Post subject:   

I agree with Lori, she has every right to know if there is a policy on her.



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PostPosted: Sat May 02, 2009 9:08 pm   Post subject:   

It's not a question of whether the insured has the right to know or not. It's a question whether the insurance company has the legal right to talk to the insured about any details of the policy.



The insurance company should not be answering questions from anybody about an insurance policy other than the owner and the agent.



(An employee of the insurance company may give the insured information about the policy, but I am pretty sure that they can't be legally doing so. Does anyone have any information, as opposed to opinion, contradicting this?

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PostPosted: Sun May 03, 2009 1:50 pm   Post subject:   

Quote:
It's a question whether the insurance company has the legal right to talk to the insured about any details of the policy
.
Quote:
The insurance company should not be answering questions from anybody about an insurance policy other than the owner and the agent
The "insured" is a party to the contract...I can't imagine how you think that the actual insured on the policy cannot be given detail? Confused The question is how can you NOT give the 'insured' information if requested?


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PostPosted: Sun May 03, 2009 2:21 pm   Post subject:   

Lori, I admit that I can be wrong about this which is why I want someone who can back this up instead of giving opinion. I'll try to explain why I think that I'm correct on this.



Who has access to the cash?

Who can change beneficiaries?

Who can cancel the policy?

Who can change the payer?

Who can change the actual insured?



The answer to all questions is the owner. What rights does the insured have? None. There is absolutely no reason for the insurance company to ever discuss the policy with someone other than the owner.



The insurance company might be willing to go as far as to tell the insured that they are the insured on an insurance policy, but beyond that, nope. For instance, I can't get an insurance company to send an annual statement of the policy to the insured without the owner giving permission. I can't discuss a policy with the insured without the owner's permission.



Let me give you an example. Mr. Smith and Mr. Jones are business partners. As part of a buy/sell agreement they purchase life insurance on each other. The business subsequently falls apart. Mr. Smith elects to keep the policy on Mr. Jones. Mr. Jones cancels the policy on Mr. Smith. I can't tell Mr. Smith that the policy on him has been cancelled and I can't tell Mr. Jones that there is insurance still on his life. In my experience, the insurance company also won't divulge this information except accidentally.



Could you imagine a bank giving information about an account to someone other than the owner? It's the same thing. The owner can divulge any information that they would like. The financial institution can't.

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PostPosted: Sun May 03, 2009 6:25 pm   Post subject:   

Quote:
The insurance company might be willing to go as far as to tell the insured that they are the insured on an insurance policy, but beyond that, nope.




...This is all the OP asked about. I have not been talking about detailed information and I'm assuming Lori isn't either. It's all according to how the policy is set up to whether they would give her the details.


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PostPosted: Sun May 03, 2009 10:41 pm   Post subject:   

Don't confuse the definition of "insured" and the rights that an insured would have between different types of insurance policies. There are great differences between an "insured," and a "named insured."



In property and casualty, only the "named insured" has any right to change anything within the policy. In life insurance, the policyowner, if different than the insured, controls all rights to the policy while the insured is alive. The only right that the insured has, if separate from the owner, and this is going to sound weird, is to die.



The insured will typically know that life insurance has been placed on their life as they had to (in most circumstances) go through some type of medical examination. There are exceptions to this (non-med) and most states will allow a spouse to take out insurance on the other spouse and minor, dependent children in the household without the signature of the insured person.



So, technically, the insurance company has the right to only discuss the policy with the policyowner. Most carriers adhere to this right.



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PostPosted: Mon May 04, 2009 10:03 am   Post subject:   

I stand corrected, and bow to the knowledge of the insurance teacher...I deal in P&C professionally (life only on a personally level)....I have to talk with my agent this week anyway...I'll ask about my state, re: devulging information to a named insured (life policy)...All I'm saying, is I can't imagine or understand how the named insured has NO rights to know anything about the policy...(I never said anything about rights of changing the policy)....



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